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Protecting Americans’ Investments from Woke Policies Act
10/4/2024, 8:07 PM
Summary of Bill HR 5339
The bill titled "Protecting Americans’ Investments from Woke Policies Act," designated as H.R. 5339 in the 118th Congress and introduced on September 5, 2023, aims to safeguard American investments from policies deemed as "woke." The bill contains key provisions aimed at addressing perceived risks associated with woke ideologies impacting investment decisions, though specific directives or actions proposed within the bill are not explicitly outlined in the provided context.
Congressional Summary of HR 5339
Roll back ESG To Increase Retirement Earnings Act or the RETIRE Act
This bill generally requires fiduciaries of employer-sponsored retirement plans to make investment decisions based only on pecuniary factors (i.e., factors that a fiduciary prudently determines are expected to have a material effect on the risk or return of an investment based on appropriate investment horizons consistent with the plan's policies and objectives).
The bill allows nonpecuniary factors to be considered in certain situations, such as when selecting investment options for certain participant-directed retirement plans or if the fiduciary is unable to distinguish between investment alternatives on the basis of pecuniary factors alone.
Read the Full Bill
Current Status of Bill HR 5339
Bill HR 5339 is currently in the status of Introduced to Senate since September 19, 2024. Bill HR 5339 was introduced during Congress 118 and was introduced to the House on September 5, 2023. Bill HR 5339's most recent activity was Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of September 19, 2024
Bipartisan Support of Bill HR 5339
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
1Democrat Cosponsors
0Republican Cosponsors
1Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 5339
Primary Policy Focus
Labor and EmploymentPotential Impact Areas
- Business ethics
- Employee benefits and pensions
- Financial services and investments
Alternate Title(s) of Bill HR 5339
Protecting Americans’ Investments from Woke Policies Act
Roll back ESG To Increase Retirement Earnings Act
RETIRE Act
No Discrimination in My Benefits Act
Retirement Proxy Protection Act
Providing Complete Information to Retirement Investors Act
Protecting Americans’ Investments from Woke Policies Act
Protecting Americans’ Investments from Woke Policies Act
Retirement Proxy Protection Act
No Discrimination in My Benefits Act
RETIRE Act
Roll back ESG To Increase Retirement Earnings Act
Providing Complete Information to Retirement Investors Act
RETIRE Act
Roll back ESG To Increase Retirement Earnings Act
Roll back ESG To Increase Retirement Earnings Act
RETIRE Act
To amend the Employee Retirement Income Security Act of 1974 to specify requirements concerning the consideration of pecuniary and non-pecuniary factors, and for other purposes.
Comments
Sponsors and Cosponsors of HR 5339
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